Misplaced Pages

#448551

79-453: Akzo Nobel N.V. , stylised as AkzoNobel , is a Dutch multinational company which creates paints and performance coatings for both industry and consumers worldwide. Headquartered in Amsterdam, the company has activities in more than 150 countries. AkzoNobel is the world's third-largest paint manufacturer by revenue after Sherwin-Williams  and  PPG Industries . AkzoNobel has

158-484: A 3.25% stake in the company, claimed it was one of a group of investors that met the Dutch legal threshold of 10% voting-share support, which is needed to call an extraordinary meeting to vote on a proposal to remove Burgmans. On 13 April, Templeton Global Equity said it was among another group of investors calling for an extraordinary meeting of AkzoNobel shareholders to discuss Burgmans continued tenure as Chairman. Later, in

237-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

316-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

395-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

474-493: A joint venture with Harrisons Chemicals (UK) Ltd a subsidiary of Harrisons & Crosfield . In 1994 Akzo and Nobel Industries agreed to merge, forming Akzo Nobel, with the new combined entity having 20 business entities a number of divestments were made: Nobel Chemicals, Nobel Biotech and Spectra-Physics. In 1995 the PET resins business was sold to Wellman, Inc.. In 1996 the group sold the crop protection business to Nufarm . In 1998

553-597: A long history of mergers and divestments. Parts of the current company can be traced back to 17th-century companies. Akzo was formed in 1969 as merger of Algemene Kunstzijde Unie (General Artificial Silk Union; AKU) and Koninklijke Zout Organon (Royal Salt Organon; KZO). The AKU was formed in 1929 when the Vereinigte Glanzstoff-Fabriken (est. 1899) and Nederlandse Kunstzijdefabriek (ENKA, est. 1911) merged, forming Algemene Kunstzijde Unie (AKU). The latter faced, amongst others, technical problems in

632-536: A meat export factory based in Oss merged with Organon , a pharmaceuticals company founded by Saal van Zwanenberg, also in Oss. After the merger of AKU and KZO, Akzo made a number of other critical acquisitions; Armour and Company in 1970, Levis Paints in 1985, specialty chemicals division of Stauffer in 1987 and divested its polyamides and polyesters plastics engineering business to DSM in 1992. In 1993, Akzo formed

711-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

790-458: A record price of €82.95 per share. Akzo shareholder, Columbia Threadneedle Investments , urged the company to open dialogue with PPG, whilst PPG claimed that the deal would add to earning within its first year. Days later one of the UK's largest pension scheme investors, Universities Superannuation Scheme (USS), urged Akzo to engage with PPG. On 2 May, Reuters revealed that the supervisory board of Azko

869-520: Is a unit producing expandable microspheres under the tradename "Expancel Microspheres" within AkzoNobel. 52°20′24″N 4°52′16″E  /  52.34000°N 4.87111°E  / 52.34000; 4.87111 Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with

SECTION 10

#1732787007449

948-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

1027-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

1106-543: The London Stock Exchange to form the first intercontinental linkage of capital markets . In 1996, the SEC issued a report alleging that Nasdaq market makers fixed prices by avoiding "odd-eighths" quotes (at the time, stock prices were quoted in increments of an eighth of a dollar) to artificially widen spreads. The report was followed by a new set of rules for how Nasdaq handled orders. In 1998, it became

1185-656: The NASDAQ Financial-100 Index, which tracks the largest 100 companies in terms of market capitalization . On March 10, 2000, the NASDAQ Composite stock market index peaked at 5,132.52, but fell to 3,227 by April 17, and, in the following 30 months, fell 78% from its peak. In a series of sales in 2000 and 2001, FINRA sold its stake in the Nasdaq. On July 2, 2002, Nasdaq Inc. became a public company via an initial public offering . In 2006,

1264-579: The New York Stock Exchange . The exchange platform is owned by Nasdaq, Inc. , which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges . Although it trades stock of healthcare, financial, media, entertainment, retail, hospitality, and food businesses, it focuses more on technology stocks . The exchange is made up of both American and foreign firms, with China and Israel being

1343-644: The Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over the VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization ,

1422-599: The United Alkali Company . which merged in 1926, forming ICI. A year later, the newly merged entity employed over 33,000 employees in five main product areas: alkali products, explosives, metals, general chemicals, and dyestuffs . In 1933 the company developed polyethylene , which is later patented and sold as an insulating material. In 1986 focusses to paint and specialty products with the purchase of Beatrice 's Chemicals Division and Glidden Paint. In 1993 ICI demerged its bioscience business, splitting into two

1501-781: The history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include

1580-666: The EMiniCME. Below are the contract specifications for the Nasdaq 100 and derivatives. Nasdaq quotes are available at three levels: The Nasdaq Stock Market sessions, with times in the Eastern Time Zone are: 7:00 a.m. to 9:30 a.m.: extended-hours trading session (premarket) 9:30 a.m. to 4:00 p.m.: normal trading session 4:00 p.m. to 8:00 p.m.: extended-hours trading session (postmarket) The Nasdaq Stock Market averages about 253 trading days per year. The Nasdaq Stock Market has three different market tiers: After

1659-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

SECTION 20

#1732787007449

1738-663: The European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in the 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from

1817-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

1896-574: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

1975-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

2054-586: The Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for the world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902)

2133-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

2212-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

2291-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

2370-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

2449-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

AkzoNobel - Misplaced Pages Continue

2528-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

2607-477: The United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

2686-696: The United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for

2765-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

2844-456: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

2923-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

3002-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

3081-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

3160-923: The company acquired industrial coatings and in synthetic fiber company Courtaulds , later divesting Courtaulds industrial coatings and Daejen Fine Chemicals. Courtaulds was merged with Akzo Nobel Fibres forming Acordis, which in December 1999 was divested to CVC Capital Partners . In 1999 the company acquired the pharmaceutical business of Kanebo. In the early 2000s the company began another wave of divestitures, first in 2000 with its stake in Rovin 's VCM and PVC business to Shin-Etsu Chemical . In 2001 divests ADC optical monomers business to Great Lakes Chemical , in 2002 its printing inks business, in 2004 its catalyst business to Albemarle Corp. , in 2005 its Ink & Adhesive Resins to Hexion and UV/EB Resins to Cray Valley, in 2007 its Akcros Chemicals to GIL Investments. In 2006

3239-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

AkzoNobel - Misplaced Pages Continue

3318-646: The continued price increases when selling market data . In December 2020, NASDAQ announced that it would strip its indexes of four Chinese companies in response to Executive Order 13959 . In September 2024, the European Commission said it had carried out an unannounced inspection at the offices of Nasdaq over potential anti-competitive practices. Nasdaq 100 futures are traded on the CME (Chicago Mercantile Exchange) while its derivatives, E-Mini Nasdaq 100 and Micro E-Mini Nasdaq 100 futures are traded on

3397-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

3476-646: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). NASDAQ The Nasdaq Stock Market ( / ˈ n æ z d æ k / ; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City . It is the most active stock trading venue in the U.S. by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind

3555-543: The eve of the United Nations Conference on Sustainable Development (Rio+20). In November 2016, chief operating officer Adena Friedman was promoted to chief executive officer , becoming the first woman to run a major exchange in the U.S. In 2016, Nasdaq earned $ 272 million in listings-related revenues. In October 2018, the SEC ruled that the New York Stock Exchange and Nasdaq did not justify

3634-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

3713-468: The first stock market in the United States to trade online, using the slogan "the stock market for the next hundred years". The Nasdaq Stock Market attracted many companies during the dot-com bubble . Its main index is the NASDAQ Composite , which has been published since its inception. The QQQ exchange-traded fund tracks the large-cap NASDAQ-100 index, which was introduced in 1985 alongside

3792-815: The group acquired Canadian decorative and industrial coatings company, SICO Inc. and a year later Canadian industrial coatings company, Chemcraft International, Inc. In 2007 Organon International was sold to Schering-Plough for €11 billion and AkzoNobel delisted its shares from the US NASDAQ stock market. In 2008 Crown Paints was sold in a management buyout. In December 2012, AkzoNobel agrees to sell its North American Architectural Coatings business to PPG Industries for $ 1.1 billion. In 2008 AkzoNobel acquired British Imperial Chemical Industries (ICI) for $ 15.8 billion. ICI can trace its history back to four British-based chemical companies; British Dyestuffs Corporation , Brunner, Mond & Company , Nobel Explosives and

3871-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

3950-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

4029-574: The largest foreign sources. "Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority . On February 8, 1971, the Nasdaq stock market began operations as the world's first electronic stock market. At first, it

SECTION 50

#1732787007449

4108-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

4187-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

4266-562: The manufacturing of synthetic fibers. Its founder, Jacques Coenraad Hartogs , turned to Dutch industrialist Rento Hofstede Crull for a solution for which Hofstede Crull provided the answer. They created a joint venture, the NV I.S.E.M. , whose successes and profits laid the foundation for the ENKA's subsequent acquisitions and mergers and which was eventually absorbed by the AKU in 1938. The other part of

4345-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

4424-480: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

4503-498: The merger, the KZO, was formed when Koninklijke Zout Ketjen merged with Koninklijke Zwanenberg Organon in 1967. The former was itself a merger of Koninklijke Nederlandse Zoutindustrie (KNZ) and Ketjen. The KNZ was formed in 1918 by Ko Vis as a salt producing company; a business that to this day plays an important role in AkzoNobel's activities. The other part, Koninklijke Zwanenberg Organon, was formed when Zwanenberg's Fabrieken (est. 1887),

4582-470: The monthly Stock Guides (stock guides and procedures) issued by Standard & Poor's Corporation. Over the years, it became more of a stock market by adding trade and volume reporting and automated trading systems. In 1981, Nasdaq traded 37% of the U.S. securities markets' total of 21 billion shares. By 1991, Nasdaq's share had grown to 46%. In 1992, the Nasdaq Stock Market joined with

4661-498: The potential deal. As part of Akzo's defense to shareholders, many of whom pushed for the deal, chief executive Ton Büchner agreed to split Akzo in two and achieve increased financial targets. Büchner stepped down as CEO in July 2017, citing health reasons. He was succeeded by Thierry Vanlancker, former chief of the company's chemicals division. The company AkzoNobel is focused on paints and coatings. On October 9, 2018 Specialty Chemicals

4740-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

4819-509: The publicly listed companies: ICI and Zeneca . The latter would later go onto merge with Astra AB , forming the current pharmaceutical company, AstraZeneca . In April 2008 Henkel acquired from AkzoNobel the adhesive part of National Starch and in June 2010, AkzoNobel divested the starch part of National Starch business to Corn Products International . In March 2017, PPG Industries launched an unsolicited takeover bid of €20.9 billion, which

SECTION 60

#1732787007449

4898-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

4977-543: The same month Akzo outlined its plan to separate its chemicals division and pay shareholders €1.6 billion in extra dividends, in order to attempt to hold-off PPG. The new Akzo strategy was dismissed by PPG, which claimed that their offer represented better value for shareholders, supported by activist Akzo shareholder, Elliot Advisors. On 24 April, a day before Akzo's annual meeting of shareholders, PPG increased its final offer by approximately 8% to $ 28.8 billion (€26.9 billion, €96.75 per share)—with Akzo's share pricing rising 6% to

5056-462: The seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and the international oil market. Iran was unable to sell any of its oil. In August 1953,

5135-834: The status of the Nasdaq Stock Market was changed from a stock market to a licensed national securities exchange. In 2007, it merged with OMX, a leading exchange operator in the Nordic countries, expanded its global footprint, and changed its name to the NASDAQ OMX Group. To qualify for listing on the exchange, a company must be registered with the United States Securities and Exchange Commission (SEC), must have at least three market makers (financial firms that act as brokers or dealers for specific securities) and must meet minimum requirements for assets, capital, public shares, and shareholders. In February 2011, in

5214-459: The then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by the strong influence of

5293-485: The wake of an announced merger of NYSE Euronext with Deutsche Börse , speculation developed that NASDAQ OMX and Intercontinental Exchange (ICE) could mount a counter-bid of their own for NYSE. NASDAQ OMX could be looking to acquire the American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE Euronext's market value was $ 9.75 billion. Nasdaq was valued at $ 5.78 billion, while ICE

5372-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

5451-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

5530-555: Was founded as a European equivalent to the Nasdaq Stock Market. It was purchased by NASDAQ in 2001 and became NASDAQ Europe. In 2003, operations were shut down as a result of the burst of the dot-com bubble . In 2007, NASDAQ Europe was revived first as Equiduct and was acquired by Börse Berlin later that year. On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable Stock Exchanges Initiative on

5609-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

5688-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

5767-457: Was meeting to discuss how to deal with PPGs third offer, still maintaining it did not value the company highly enough. In early May, Akzo again rejected PPGs bid, citing the deal still undervalued the company, as well as potentially facing antitrust risks, and not addressing other concerns such as "cultural differences". Under Dutch company law, PPG had to then decide to either make a formal bid or walkaway. In early June, PPG chose to walk away from

5846-403: Was merely a "quotation system" and did not provide a way to perform electronic trades. The NASDAQ Stock Market eventually assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading, but there are still many securities traded in this fashion. As late as 1987, the Nasdaq exchange was still commonly referred to as "OTC" in media reports and also in

5925-501: Was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore,

6004-437: Was promptly rejected by AkzoNobel's management. Days later, PPG again launched an increased bid of €24.5 billion, which was again rejected by AkzoNobel's management. A number of shareholders urged the company to explore the offer and subsequent negotiations. In April, activist investor, Elliot Investors' called for the removal of Chairman Antony Burgmans following Akzo's refusal to submit to discussing with PPG. Elliott, which has

6083-580: Was re-branded as a new company, Nouryon, after acquisition by the Carlyle Group . International Paint Limited, owned by AkzoNobel were fined £650,000 and ordered to pay costs of £144,992 in a prosecution brought by the Environment Agency for allowing the banned highly toxic chemical tributyltin to be released into the river Yealm estuary at Newton Ferrers . Due to high revenues from the sales of its pharmaceutical business, AkzoNobel

6162-414: Was the world's most profitable company in 2008. AkzoNobel markets their products under various brandnames such as Dulux , Sikkens, International and Interpon. AkzoNobel is a leading coatings company whose key products include automotive coatings, specialised equipment for the car repair and transportation market and marine coatings. The coatings groups consist of the following business units: Expancel

6241-662: Was valued at $ 9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Mercantile Exchange to join in what would probably have to be, if it proceeded, an $ 11–12 billion counterbid. In December 2005, NASDAQ acquired Instinet for $ 1.9 billion, retaining the Inet ECN and subsequently selling the agency brokerage business to Silver Lake Partners and Instinet management. The European Association of Securities Dealers Automatic Quotation System (EASDAQ)

#448551